Millennials aren’t so different than older generations when it comes to spending—they just have less money to do it with. The Federal Reserve found that 21-37-year-olds are spending primarily on the same categories that their parents did at their age. But Millennials are spending less on food and housing and more on education. The study concludes that they’re “less well off than members of earlier generations when they were young, with lower earnings, fewer assets, and less wealth.” (Fortune, Uproxx)
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